A 32-year-old woman with gestational diabetes delivers a male infant at 38 weeks via emergency cesarean section for fetal distress. The infant is pale, limp, and not breathing at delivery. At 1 minute of life, the APGAR score is 3 (pale appearance, heart rate 80 bpm, no response to stimulation, flaccid tone, no respiratory effort). Immediate bag-mask ventilation is initiated. At 5 minutes, after 2 minutes of PPV, the infant's heart rate is now 120 bpm, he has weak spontaneous gasping, minimal muscle tone, and a feeble cry. What is the 5-minute APGAR score and what is the most appropriate next step?